Monday, October 2, 2006
Seagate unveiled plans this week to spend $818 million on a new hard-drive media plant in Singapore.
Seagate said in a statement that work on the new facility would begin in late 2006 and that manufacturing would start by mid-2008. Seagate initially plans to hire around 1,000 new employees to staff the plant, but said it could create up to 3,000 new jobs when it is running at maximum capacity "depending on the global requirement for storage media."
The new factory will be built as an extension to the company's existing Woodlands operation, already Seagate's largest media manufacturing facility and responsible for about 60 percent of its advanced disk media output. Seagate said the new plant would focus on "state-of-the-art equipment and new-generation technologies," including perpendicular recording.
The investment is Seagate's first since it said in August that it would shut down three plants here operated by former rival Maxtor, which Seagate acquired in late 2005. The closures are expected to result in the laying off of 3,500 employees.
By: DocMemory
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